The SSA release authorization form has verbiage right above the signature line which states:
"This consent is valid only for 90 days from the date signed, unless indicated otherwise by the individual named above. If you wish to change this timeframe, fill in the following:
This consent is valid for ___ days from the date signed. _____ (Please initial.)"
In my almost 13 years of doing this, only once has the borrower indicated a different timeframe and initialed. Usually, we just leave that blank, IME. One other time, TC specifically instructed to have borrowers initial. Borrowers did so. However, they also wrote in "90" in that blank. They were not leaving anything to chance.
Last week, I had one that borrower left blank (TC had not given instructed otherwise). BUT, when TC received docs, she called and said borrower should have initialed. She was contacting borrower directly to have that "corrected." I pointed out to her that form specifically stated "if you wish to change ...." TC said the initialing requirement is lender-specific and this particular lender wants initials. Guess NSA should have been notified?
What's your procedure on this? I'm starting to second-guess myself .....
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